HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0149%/8h= +16.3% APRnext payment +$1.49 per $10,000 · paid last 24h −0.033%

Price spread now: Kalshi against Paradex+0.066%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$510.508% of the position

Long on Paradex Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.111%−$11 on $10k

Price spread, last 4 days (all we have)−0.179%−$18 · spread now +0.066%, 7d avg +0.009%

Together, before fees−0.289%+ Points / potential airdropParadex: Active · farm board−$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kalshi is 0.057% dearer against Paradex than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.009%. Mind the row above: over the last 4 days funding on this pair cost −0.111%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex HYPE-USD-PERP	92.766	0.0093	pay 0.0093% / 8h	4h 21m	$339K	$163K	20x
Short	Kalshi KXHYPEPERP	92.827	0.0242	get 0.0242% / 8h	21m 18s	$1.8M	$5.4M	2.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Paradex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ParadexbpFee KalshibpOrdersPrice spread, now +0.066%Rate

Funding earned: $31.2
Price spread: +0.066% → +0.009%: $5.74
Slippage, 4 orders: −$36.85
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$13.91
Costs to cover: 0.508%
Break-even: 10.1 days

Slippage from Paradex: live order book, 38 min ago; Kalshi: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Paradex live order book, 38 min ago	12.88 bp	14.9 bp −$15	149.0 bp −$1,490	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	2.26 bp	11.1 bp −$11	12.7 bp −$127	19.7 bp −$1,975	doesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus HYPE-USD	−0.0948%	1h	92.659	−0.115%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0240%	1h	92.701	−0.070%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0227%	1h	92.666	−0.108%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.756	−0.011%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.738	−0.030%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	92.767	+0.001%	$87K	$359K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.770	+0.005%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.755	−0.012%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.773	+0.008%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0020%	8h	92.672	−0.101%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0030%	1h	92.750	−0.017%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0035%	1h	92.680	−0.093%	$697K	$1.1M	10x	as long as short
Aster HYPEUSDT	+0.0039%	4h	92.741	−0.027%	$8.7M	$36.3M	300x	as long as short
BingX HYPE-USDT	+0.0040%	4h	92.758	−0.008%	—	$53.4M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.652	−0.123%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0049%	8h	92.750	−0.017%	$316.7M	$282.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0087%	8h	92.765	−0.001%	$113.6M	$304.3M	50x	as long as short
Gate HYPE_USDT	+0.0088%	4h	92.751	−0.016%	$44.5M	$55.3M	75x	as long as short
Paradex HYPE-USD-PERPlong	+0.0093%	8h	92.766	long leg	$339K	$163K	20x
Lighter HYPE	+0.0096%	1h	92.748	−0.019%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.749	−0.018%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.733	−0.035%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.660	−0.114%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.746	−0.021%	$7.1M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.774	+0.009%	$2.02B	$663.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.775	+0.010%	$10.0M	$15.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.765	−0.001%	$372.5M	$904.0M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.762	−0.004%	$87.5M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.744	−0.024%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.759	−0.007%	$224.5M	$98.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.720	−0.049%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.628	−0.149%	$28.5M	$57.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.707	−0.063%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.679	−0.094%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.729	−0.040%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.803	+0.040%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.770	+0.004%	$465K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.733	−0.035%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.744	−0.023%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.714	−0.056%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.778	+0.013%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.900	+0.145%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	−0.070%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.751	−0.016%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.773	+0.008%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0116%	4h	92.666	−0.107%	$5.0M	$29.5M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.252%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.780	+0.015%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERPshort	+0.0242%	8h	92.827	+0.066%	$1.8M	$5.4M	2.3x
Reya HYPERUSDPERP	+0.0262%	1h	92.754	−0.013%	$79K	$132K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.766	0.000%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.840	+0.080%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.691	−0.081%	$16.6M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0472%	1h	92.865	+0.107%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.782	+0.017%	$3.2M	$6.4M	20x	as long as short